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The CBO says there were between 1 million and 2.1 million more jobs during the last three months of 2009 than there would have been without the stimulus law. The White House Council of Economic Advisers pegged that number as between 1.5 and 2 million jobs in a January report.
Using your most fanciful numbers, each of the 2.1 million jobs cost $136,825 borrowed dollars per year. Since Americans average $40K per year from full-time employment and not counting interest charges, 3.4 private sector jobs will be lost due to future taxes and or inflation needed to pay off the borrowed money.
Using your most fanciful numbers, each of the 2.1 million jobs cost $136,825 borrowed dollars per year. Since Americans average $40K per year from full-time employment and not counting interest charges, 3.4 private sector jobs will be lost due to future taxes and or inflation needed to pay off the borrowed money.
Isn't that the way some think. Buy now, pay later or maybe not at all.??
Once CBO decided to assume that every dollar of government spending increased GDP by the multipliers above, its conclusion that the stimulus saved jobs was pre-ordained. The economy could have lost 10 million jobs and the model still would have said that without the stimulus it would have lost 11.5 million jobs.
Yet by simply assuming large multipliers, CBO effectively pre-ordained its conclusion that the stimulus worked, regardless of what actually happened in the economy.
Correct. This is why its humorous to hear the government proclaiming that foodstamps is a huge economic boost because the result is 2x what is spent. What is ridiculous is the fact that if food stamps were such a huge economic boosting to the local economy, neighborhoods where foodstamps are widely used wouldnt look like they do.
Now you know the nay sayers will shoot this down and try to discredit the findings.
The real question is: what do the findings tell us? The jobs that were created or saved were government jobs. Those jobs are a permanent drain on the taxpayer. Frankly, it would have been better for all of us if the unemployment rate had gone up to 11% if that meant fewer snouts in the government trough.
The CBO says there were between 1 million and 2.1 million more jobs during the last three months of 2009 than there would have been without the stimulus law. The White House Council of Economic Advisers pegged that number as between 1.5 and 2 million jobs in a January report.
So far they have spent about $280 billion with the stimulus, they could just give about $100,000 to almost 3 million people, and say they created a two year job that paid a $50,000 annual salary, and dropped the unemployment rate to around 8%. Or they could have employed 6 million people for one year at $50,000.
The stimulus was a total waste of money, but the 0-bots will continue to spin it as if it was brilliant.
The real question is: what do the findings tell us? The jobs that were created or saved were government jobs. Those jobs are a permanent drain on the taxpayer. Frankly, it would have been better for all of us if the unemployment rate had gone up to 11% if that meant fewer snouts in the government trough.
Government jobs, created or saved by the stimulus, should not even be counted. Lets say you create a government job at the cost of $80,000, that is $80,000 we taxpayers will have to shell out for that job. All 0bama has done is created government jobs, and many of them will continue, so that means more taxes have to be collected, or money borrowed from China, to pay for those jobs.
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